The 20 Rising Stars of Fixed Income 2008

1. represent roughly $35 billion in assets, on investment decisions, diversification and strategy and asset allocation. Often, what makes something exciting also is its biggest challenge. Indeed, institutional investors have been slow to recognize the diversity that fixed income offers, Berlin noted. However, his tenacity is beginning to pay off. “I’m encouraged that new clients are looking at more diverse fixed-income strategies,” he added. Berlin currently is directing his attention to the credit crunch, which he said is likely to affect the distressed debt markets. These days, he’s spending a lot of time investigating top-tier distressed managers so he can get his clients ahead of the trend. In fact, he noted that he is recommending that his clients move into the private distressed strategy. Berlin got the fixed income bug during a college internship at Merrill Lynch, where he had the opportunity to experience fixed income trading under the supervision of John Tuke. He began his career as an equity options research analyst at Schaeffer’s Investment Research in 1996 before leaving to become a money markets trader at Fifth Third Bank in 1998. He joined his current employer in 2000. Looking forward, Berlin believes returns for traditional core fixed-income investments will be tougher to come by. “With a low return environment, investors will be looking outside the box to further diversify,” he said, adding that he foresees greater interest in global fixed income. In addition, he anticipates more use of alternatives, which he thinks will lose their stigma and become an accepted investment choice across the board. As for himself, Berlin would love to work himself up to the partner level - and beyond. “I see myself becoming the chief investment officer either here or elsewhere,” he added. KEITH BERLIN Vice President, Fixed Income Fund Evaluation Group, Cincinnati, OH Age: 36 Education: University of Kentucky (B.A. in Economics); Thomas Moore College (M.B.A.) Mentors: William Eigen, Managing Director and Senior Portfolio Manager, Highbridge Capital Management; John Tuke, Chief Financial Officer, The Hotchkiss School As vice president for fixed income at the Fund Evaluation Group, Berlin conducts research on investment managers focusing on fixed income, private distressed and alternative fixed income strategies. Based on his research, he advises his institutional clients, which 2. WILL DEITRICK Partner and Portfolio Manager Greenock Capital, New York Age: 37 Education: Johns Hopkins University (B.A. in International Relations, M.A. in International Finance and Economics) Mentors: Randy Barker, Former CoHead of Fixed Income, Citigroup; Geoff Coley, Former Co-Head of Fixed Income, Citigroup; William Troy, Partner and Co-Founder, Greywolf Capital; Robert Waldman, Head of Fixed Income Research, Citigroup Deitrick is a partner and portfolio manager at Greenock Capital, a New Yorkbased multi-strategy hedge fund he helped to ramp up in the spring of 2007. In that role, he is responsible for managing the firm’s credit business, including an investment portfolio comFIXED INCOME RISING STARS 13 1. KEITH BERLIN MAY 2008 2. WILL DEITRICK

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